The potential contribution of land based financing to the development of sustainable and equitable cities and properly serviced communities is often underestimated. Land based financing is a collective name given to a range of instruments by which local governments could expand their revenue base and generate funds that will help them to deliver services and infrastructure development and achieve their maintenance goals.
Today, more than half the world’s population lives in cities. By 2030, it is projected that 6 in 10 people will be urban dwellers. By 2050, the figure will have risen to 6.5 billion people; representing two-thirds of all civilization. Taking into account the increasing rural to urban migration and the rapid growth of cities in the developing world, it is clear that cities face a myriad of problems that may hinder planned growth and development.
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